For segment reporting purposes, what amounts are reported by each operating segment?

Q: Prepare a contribution format income statement segmented by product lines.

A: Income statement:-  Income statement is the statement that shows the company a clarity in how much…

Q: What

A: Introduction:- The following one of the conditions is required to satisfied for segment reporting as…

Q: Describe any differences in segment disclosure requirements between U.S. GAAP and IFRS.

A: International Financial Reporting Standards IFRS is a set of global accounting standards issued by…

Q: (Based on Appendix 3) For segment reporting purposes, what amounts are reported by each operating…

A: Segment Reporting: Segment reporting is the reporting of the operating segment of several business…

Q: Give detail definition on operational cost and explain in detail how the operational cost is…

A: Introduction:- The following definition of operational cost as follows under:- Operating costs are…

Q: ____________________emphasizes detailed segment reports about departments, customers, products, and…

A: Managerial accounting: Managerial accounting refers to the practice of identifying, measuring,…

Q: Which of the following describes the term ‘cost unit’?   A basis for cost classification A…

A: Cost unit is the per-unit cost incurred to produce the product. It includes both costs i.e fixed…

Q: The appropriate calculation of the predetermined overhead rate is _________. A. Actual overhead…

A: Pre determined overhead rate is used to apply manufacturing overhead cost to Job or process.

Q: Cost centres is a. Amounts of expenditure attributable to various activities b. Units of product or…

A: cost centre is a department within a business to which costs can be allocated..... Cost centre is…

Q: On what basis should the transaction price be allocated to various performance obligations? Identify…

A:

Q: industry cost standards

A: The financial position of the company can be arrived from the income statement prepared by the…

Q: What can be understood from “Segment Reporting"?

A: Financial reporting:   It refers to the disclosure of financial results of an organization for a…

Q: How are equipment setups classified? Batch-level activity Product-level activity Facility-level…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Which of statements about the contribution income statement is correct? Group of answer choices

A: A contribution income statement is defined as the statement in which all the variable costs and all…

Q: How can the amounts shown on the- nancial statements be called historical ?cost amounts

A: Answer A. The correct answer is option (C) When an item was originally obtained whether that…

Q: Identify the purpose and process for each component (Front-End, Middle, Back-End) of revenue cycle…

A: What is RCM? Revenue Cycle Management (RCM) alludes to the way toward recognizing, gathering and…

Q: What is the total revenue of the reportable segments after considering the quantitative thresholds…

A: The reportable segments are those segments which have to be shown and to be declared by the company…

Q: Product Type relation with Attendance endance

A: 1. type of event Pivot Table Hence Highest average attendance is for Concert Type of Event Question…

Q: What guidance does the Codification provide concerning reporting inventories above cost?

A: Inventory management: Inventory management is defined as a set of processes clearly determined for…

Q: Explain whether the cost accounting system primarily supports internal or external reporting.

A: Cost Accounting System: Cost accounting system refers to as a framework designed by the company to…

Q: Which of the following is NOT correct about cost center and cost unit? Select one: a. A cost center…

A: Cost accounting is referred to as a branch of accounting that is related to the calculation of total…

Q: .For external reporting purposes, the amount of inventoriable costs must be: our answer . For…

A: Inventoriable Cost: Inventoriable costs are those costs which are directly associated with the…

Q: What amounts are reported by an operating segment?

A: Segment reporting: Segment reporting aims at classifying the risks encountered by the companies in…

Q: In a responsibility accounting system, should the recording of revenue and costs begin at the…

A: Responsibility center: A department or unit of a corporation where the management assigns the…

Q: Identify significant accounts and relevant assertions related to the production cycle.

A: Definition: Management Assertion: Management assertion refers to the claims made by the management…

Q: Name the units of service on which cost-based payers may pay providers

A: Payers- is a company that  pays for or reimburses for medical services availed. For example, the…

Q: What is a reportable operating segment?

A: Operating segment is a segment of a company which can generate its own revenue and has its own…

Q: What is the purpose of the raw materials subsidiary ledger? How is it related to the general ledger?

A: Definition:   Raw material subsidiary ledger: This ledger refers to the individual account, which…

Q: What disclosures are required For areas determined to be reportable operating segments?

A: Definition: Operating segment: Operating segments are different business verticals of a company that…

Q: How is it possible for a cost that is traceable to a segment to become a common cost if thesegment…

A: Fixed Cost: It is a cost which is constant in the short run, it is not related to any change in the…

Q: How much is the minimum revenue for an operating segment to be classified as a reportable segment…

A: Reportable Segment: According to International Financial Reporting Standards 8, a business must…

Q: Value chain classifications Match each of the following cost items with the value chain business…

A: Value Chain Analysis is an inbound logistics that includes a range of activities like receiving,…

Q: Describe the impact that the cost constraint has on reporting accounting information.

A: Accounting information not only must be relevant and faithful, they must also pass the economic test…

Q: Based on the assignment and what you know about management accounting, what do you believe is the…

A: Management accounting :             The branch of accounting which facilitates the information from…

Q: What types of management reports are prepared by the cost accounting system?

A: Definition: Cost accounting systems: It is a system which measures, record, and reports the product…

Q: Name the major subsystems of the revenue cycle.

A: Revenue cycle refers to tracking a revenue transaction from its beginning to end i.e. from receiving…

Q: The terms period cost and product cost are sometimes used to describe certain items in financial…

A: Definition and distinguishing of the terms- a) Product Cost- these are all the direct cost…

Q: If operating segments are based on geography rather than products or services, can they still be…

A: Operating Segment:   An operating segment of an organization is a component that is a profit centre…

Q: What is the primary goal of the cost-of-production report? What is the purpose of these reports in…

A: Cost-of-production report is a statement which shows all the production related costs within a…

Q: Define revenues

A:

Q: What is the difference of segment reporting and operating segments? Are they interrelated? Please…

A: Introduction: The inclusion of a company's current segments in the disclosures that accompany its…

Q: Which of the following is one of the difference between management accounting and cost accounting.

A: Difference between management accounting and cost accounting is given below,